AAPG has created a new event that will pair high-potential projects that use new techniques and technologies with investors who are eager to support them.
The event, known as Pitchapalooza, will launch April 6 during the Annual Convention and Exhibition in Houston and will consist of a half-day of presentations.
Susan Nash, AAPG's director of innovation and emerging science/technology, explained that the event is a way for AAPG to accelerate the productive development and applications of innovation in concrete projects that have a clear return on investment and which can produce jobs and profits.
Most of the pitches will be between 10-15 minutes in length and will seek enterprise-level funding, while mini pitches, or "Five for Five" pitches, will be five minutes in length and will request a $5,000 investment.
Both individuals and companies are welcome to form teams for Pitchapalooza. Nash explained that in order to join in, "they should own the rights to the property if it is a property, whether that be the leases, the minerals or a farmout. If it is funding for a technology, they should own the intellectual property."
Teams will make their pitch to an audience of representatives of venture capital, private equity, crowdfunding and personal investors. Nash noted that the audience could also include researchers, students, young professionals, newly-formed teams looking for ideas, bloggers and more.
Ideas of every shape and size can be pitched during the event. A sampling may include "exciting, environmentally friendly ways to optimize reservoirs, find new sources of energy and to solve environmental problems," said Nash.
"I think there will be a number of new approaches to the implementation of innovation, whether it be a technique, a technology, a product or a way to acquire and process new information," she added.
Providing the Tools
While the teams prepare for their presentations, AAPG will offer a variety of resources.
"We will provide a guide for the participants to follow so they cover all the key points and are consistent enough to be evaluated clearly," said Nash.
Toolkits will also be available, which will include valuable software for analytics. Nash said she is working with software and information providers to gather packages for cloud-based solutions along with discounts for workstation-based packages. In addition, AAPG will offer a number of courses for teams, such as a course on petroleum economics and short courses.
Nash said the event will be valuable to the participants and investors alike.
"I think that the event can be absolutely transformative for individuals and companies, especially at this point in time when there are many very talented and experienced individuals who are free agents and can come together to tackle reservoir and environment problems, with great returns on investment and value to society," she said.
Nash developed the idea for Pitchapalooza after organizing workshops and courses like "Revitalizing Reservoirs" and "Making Money with Mature Fields" and others that involved interdisciplinary teams.
"I had the opportunity to speak to geoscientists, engineers, finance experts and landmen, and I could see that there were many opportunities, but people need a leg up — not just capital, but also hope in the form of a facilitating entity that will help create productive teams. It translates to career opportunities as well as potentially company-making ventures," she said.
"We're in a time of dramatic change and Pitchapalooza is envisioned as a change agent," Nash added. "We hope to have this expand so that we'll have four or five events a year – associated with conferences and conventions, or as stand-alones."
To learn more about the event, contact Susan Nash.